Mexico’s new Finance Minister Rogelio Ramirez de la O said he will continue support for state oil giant Petroleos Mexicanos, but that it would be a little late to change the country’s oil laws.
“The government is in full position to keep supporting Pemex,” Ramirez de la O said at a Moody’s event Thursday. But the government will also “get closer to Pemex to give them more feedback for things that are necessary to do and necessary to reorder, and we’re working on that.”
As the government pushes for a constitutional reform to electricity laws, Ramirez de la O said now “would be a little late” to change overall energy laws that last decade gave private companies access to the Mexican market. In his first three years in power, President Andres Manuel Lopez Obrador made reversing this legislation one of the main goals of his agenda.
The comments, in one of Ramirez de la O’s first public appearances after being confirmed by Congress last month, suggest he is trying to have a greater influence than his predecessors over how Pemex uses government aid.
Obrador has poured billions into the company, the world’s most indebted oil firm, since taking office in 2018, but it was downgraded further into its junk credit rating by Moody’s last month.
Read more: Mexico’s President to Present Key Energy Reform This Month
He added that it’s critical to keep up the government’s fiscal prudence and to rebuild emergency stabilization funds used during the pandemic.
more recommended stories
Isidore; the day a hurricane changed gender upon entering Yucatán
Mérida, Yucatán, (September 22, 2021).- 19.
Lost jobs could be recovered by the end of the year
Mérida, Yucatán.- The jobs lost during.
Park of ‘La Plancha’ would be financed with the sale of part of the lands to private individuals
MÉRIDA, Yucatán, (September 22, 2021).- After.
Mexico demands the US a regional migration agreement
Ebrard said he had raised the.
Hate message left at Jewish leader’s home in Merida
Mérida.- The president of the Board.
LGBTI people suffer violence and discrimination in the prisons of Quintana Roo
Activists claim that inmate members of.
Cancun Technological Institute students return to face-to-face classes
The Cancun Technological Institute makes the.
Relocation of bus stops in Downtown Mérida, as of October 2nd
Yucatán government announces new location of bus.
Femicide of mother and her two daughters impacts the community of Campeche
Yesterday, the three were found in.
International Peace Day 2021: Day, theme, significance and quotes
The International Day of Peace 2021.